Atul Ltd 2019-20

Corporate Overview Statutory Reports Financial Statements 208 Atul Ltd | Annual Report 2019-20 01-21 22-91 92-228 Note 29.6 Employee benefit obligations (continued) The assumptions used in determining the present value of obligation of the interest rate guarantee under deterministic approach are: Particulars 2019-20 2018-19 i) Mortality rate Indian Assured Lives Mortality (2006-08) ultimate Indian Assured Lives Mortality (2006-08) ultimate ii) Withdrawal rate 5% pa for all age groups 5.0% pa for all age groups iii) Rate of discount 6.24% 7.22% iv) Expected rate of interest 8.50% 8.65% v) Retirement age 60 years 60 years vi) Guaranteed rate of interest 8.50% 8.65% b) Defined contribution plans: Provident and other funds: Amount of ` 15.03 cr (March 31, 2019: ` 15.98 cr) {net of ` 0.26 cr (March 31, 2019: ` 0.21 cr) from the Pradhan Mantri Rojgar Protsahan Yojana} is recognised as expense and included in Note 26 'Contribution to Provident and other funds'. Compensated absences: Amount of ` 5.69 cr (March 31, 2019: ` 3.57 cr) is recognised as expense and included in Note 26 ' Salaries, wages and bonus'. c) The Group is studying the legal position on the implications of the relevant judgement of the Supreme Court on applicability of provident fund on its various allowances and is in the process of expeditiously depositing related dues, if any. Note 29.7 Fair value measurements Financial instruments by category ( ` cr) Particulars As at March 31, 2020 As at March 31, 2019 FVPL FVOCI Amortised cost FVPL FVOCI Amortised cost Financial assets Investments: Equity instruments - 467.08 - - 527.35 - Mutual funds 651.69 - - 208.81 - - Government securities - - 0.01 - - 0.01 Investment in National Highways Authority of India bonds - - - - - 0.10 Trade receivables - - 719.73 - - 698.47 Loans - - 0.27 - - 0.37 Security deposits for utilities and premises - - 3.00 - - 2.47 Dividend receivable - - - - - 0.01 Derivative financial assets designated as hedges (net ) - - - - 1.22 - Cash and bank balances - - 35.37 - - 54.50 Other receivables - - 32.06 - - 18.92 Total financial assets 651.69 467.08 791.64 208.81 528.57 774.85